Users related to Alibaba money laundering and fraud should be reported to the authorities
Reporter Jeong Jae-yong = Chinese technology giants such as Alibaba Group and Tencent Group have begun self-regulating their non-fungible token products.
According to Hong Kongs South China Morning Post on the 23rd, Ant Group, a fintech affiliate of Alibaba Group, Chinas largest e-commerce company, has announced that it will strictly enforce the rules for its digital collections.
Alibaba logo and mascot
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Chinese authorities have banned the creation of profits through NFT products. As a result, Chinese tech giants such as Alibaba, Tencent, Biribiri, JD.com, Baidu, and Xiaomi are referring to NFTs as digital collectibles.
In a statement, Ant Groups NFT service platform, Jingtan, said in a statement that it would notify the police and hand over the data to law enforcement if it was discovered that users were trading digital collectibles outside the platform to constitute criminal activity.
Jintan added that he would report to authorities anyone who used specialized software to secure its digital collections or who engaged in money laundering or fraudulent activities.
In addition, WeChat, the social media platform of Tencent, Chinas largest technology company, has temporarily suspended services for digital collectibles, including West Lakes number one.
Experts evaluate the move by Alibaba and Tencent as a precautionary measure to avoid Chinese authorities regulation of NFT services, which remains a gray area.
Although the Chinese authorities completely ban the trading and mining of cryptocurrencies including Bitcoin, NFT services are not yet fully regulated.
NFT uses blockchain technology to give digital content a unique recognition value, and it is attracting attention as a new digital asset because it can make images, pictures, and music into non-replicable content.
Instead of making digital collectibles, or NFTs illegal, Chinese authorities are pushing for a plan to build their own NFT industry based on state-led blockchain infrastructure.
The blockchain service network sponsored by China Mobile, China UionPay, a state-owned Chinese company, and the National Information Center, a state-run think tank, has built BSN-DDC, an infrastructure to support the independent NFT industry separated from the global market, from last January. service started.
BSN-DDC is expected to start full-scale service from the end of March at the earliest.
On the other hand, Chinese authorities began to regulate cryptocurrency mining and trading in May last year, and at the end of September last year, all kinds of cryptocurrency trading were defined as illegal financial activities and banned entirely.
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